Determined to get rid of my debt ASAP!
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enthusiasticsaver wrote: »I would also say in the OPs situation not having contents insurance is madness. I am not a fan of insurance myself and never take out extended warranties, additional insurances and our excesses are £500 usually to keep premium low but we have significant savings. OP does not and for the sake of less than £10 per month will protect himself from the cost of replacing everything should there be a fire.
I'm with you on the extended warranty issue - except with one notable exception which I felt the benefit of recently. At the beginning of 2014 I spent a 4-figure sum on a camera lens - it was bought from a Hong Kong based company so came with no UK warranty. I'd bought items from the supplier before, and have done since, however on this occasion I chanced looking at the cost for the three year extended warranty. It was £17 - and with the amount I'd already saved buying the HK lens anyway I decided to pay for it. Last month, when the lens went wrong, I was very glad I had, it paid out to the tune of £350 for the repair! :rotfl: it is the one and only extended warranty I had EVER taken out on anything!
Apologies for taking your thread off topic OP - just thought enthusiasticsaver might appreciate that one!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00
Balance as at 31/12/23 = £112,000.00SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
:rotfl: No worries at all Essex!
On the insurance debate, I never even thought about insurance before this thread! But I must admit, it seems a no brainer to pay £6.99/month (how much I was quoted) to cover EVERYTHING. I would even say Cailbhinn, you should get it :rotfl: !!
Just had some bad news, apparently, we have been overpaid child tax credits now! so for the next 5 weeks my OH will be given £47.30 per week instead of £98.42 :eek: Just a nightmare after planning all this!SPC10 #5600 -
'Tis the law of s0d that the best laid plans will be disrupted by the *bleeping* Child tax credit people. :mad:🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00
Balance as at 31/12/23 = £112,000.00SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
EssexHebridean wrote: »'Tis the law of s0d that the best laid plans will be disrupted by the *bleeping* Child tax credit people. :mad:
Even better one for you, received reply from Walker Love who say CT balance needs to be cleared by April in time for the new tax year. I'll be back tonight to plan
Thanks for the support! SPC10 #5600 -
It never rains but pours!
Re: CT - you planned for June so two months early shouldn't be a big issue with HP and wedding fund coming free - keep the £150 p/m until Jan then increase to £220-ish I presume?
It will be tight for a couple months because of benefit reduction - if you could absorb that with being frugal with the groceries then you might just manage but appreciate its difficult feeing wee ones at a reasonable amount. Also the kids clubs - could they forgo it for a couple months?Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Jan 2017) - £10,465 (20% paid)0 -
That's a decent excuse I suppose Cailbhinn
Right going to sit down today and sift through and see what I can do!
Will post on here for everyone's trained eye :beer:SPC10 #5600 -
Monthly Income Details
Monthly income after tax................ £1,365.54
Partners monthly income after tax....... £0.00
Benefits................................ £326.80
Total monthly income.................... £1,692.34
Monthly Expense Details
Secured/HP loan repayments.............. £336.60
Rent.................................... £350.00
Council tax............................. £100.00
Electricity............................. £40.00
Gas..................................... £40.00
Mobile phone............................ £33.00
TV Licence.............................. £18.18
Satellite/Cable TV...................... [new price] £57.00
Groceries etc. ......................... [new reduction] £200.00
Clothing................................ £0.00
Petrol/diesel........................... £90.00
Road tax................................ £0.00
Car Insurance........................... £0.00
Car maintenance (including MOT)......... £0.00
Other child related expenses............ £56.00
Contents insurance...................... [new price] £7.00
Presents (birthday, christmas etc)...... £0.00
Haircuts................................ £0.00
Entertainment........................... £0.00
Emergency fund.......................... £0.00
Wedding................................. £0.00
Total monthly expenses.................. £1,327.78
Unsecured Debts
Description....................Debt......Monthly..
Debt...........................4788......129......
Aunt...........................1000......125......
Total unsecured debts..........5788......254......
Monthly Budget Summary
Total monthly income.................... £1,692.34
Expenses (including HP & secured debts). £1,327.78
Available for debt repayments........... £364.56
Monthly UNsecured debt repayments....... £254.00
Amount left after debt repayments....... £110.56
Right, this is my new story now for November I have changed/included:-- Benefits down from £531.28 to £326.80
- Council Tax Payment to £100 (for Nov & Dec, rising to £230 January through to April)
- TV License is £18.18
- New Virgin price of £57
- £40 saving from groceries, now £200
- £7 contents insurance added
- £6 a month taken off debt repayments as PDL company have written off outstanding balance of £232 :j
- BUT
- £20 to pay back balance from THREE mobile per month, new Debt monthly repayments at £129
Items in red, I will allocate from the amount left after debt repayment.SPC10 #5600 - Benefits down from £531.28 to £326.80
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You're still not budgeting anything for car tax/insurance? You need to set aside a minimum of £75 per month to cover this - PLUS extra for the months you haven't yet done so, plus an additional sum for maintenance, servicing and depreciation. Otherwise what happens when these things come up is you just end up falling back on the CC again. You need to start building the good habits from now.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00
Balance as at 31/12/23 = £112,000.00SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
Hi
I am determined to clear my debts ASAP, I have manged to do a couple of them in the last years or so ...however i have a very old unsecured debt with Welcome Finance which was outstanding £3500, it was from 2008, i was paying it off very slowly then got in to some financial difficulty (being young and naive )
however in 2012 i applied for PPI compensation and the fscs granted me £1031.44 which was deducted from my outstanding balance.
Welcome then passed my debt on to creditors ie mackenzie hall and experto credite ltd in which i sent many letters back to them and copied in welcome finance explaining my situation and offered them a settlement on the account for £1000 which i could borrow from a family member i had one reply asking for my my out goings which i sent back and since 2014 not heard anything back from any creditiors or welcome.
However now i'm baffled as i have searched my credit report and cannot find any trace of this debt on there at all ....... even thought welcome finance send me a 6 monthly loan statements telling me how much i owe even though they have gone in to administration...
My question is what would you recommend i do as i cannot find the debt on my file?
shall i seek advise from citizens advise?
or can any one shed any light or share similar stories0
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